Globalization challenges the Blue Denmark
Jeffrey Saunders from the Institute of Future Research is one of the main speakers at the Blue Denmark Maritime Conference at Christiansborg. He gave the 100 participants an insight into the rapid globalization and its importance to shipping and the Danish maritime industry.
The Blue Denmark has so far ridden two successful waves in globalization. But there are major changes as a result of the 4th industrial revolution that are under way.
"The revolution means that customers, both private and professional, get access to new services without necessarily owning them," said Jeffrey Scott Saunders, Institute of Future Research.
The 4th industrial revolution means change in many circumstances. For example, 3D printing will mean that consumers can access their products in new ways that will affect shipping and maritime industries.
"The big question is how the changes will affect the West and, for example, China as a production country. It urges us to figure out how to react to the changes, what will happen, when and when," asked Jeffrey Saunders.
Jeffrey Saunders anticipates strong growth in trade, especially regional and less across continents. He believes that the growth in services will increase more than trade in products.
"We want to see smarter, better and more modular transport systems. So, the 4th Industrial Revolution will show its face with new forms of production, distribution and consumption. It will be a key engine in the coming years of change," said Jeffrey Saunders.
It will mean change in the way we do business, he pointed out.
"Disruption and the 4th industrial revolution are important for labor, energy consumption and new modes of transport, like Amazon experimenting with driverless trucks," said Jeffrey Saunders.
Other giants are on their way into transport and logistics, and it challenges the traditional shipping industry.
"The really interesting thing is business models. Where can we provide services around us? Instead of looking at today's core services, industry needs to be better at how buyers will deal with services rather than focusing exclusively on delivering a particular product or service. And if the actors in the maritime industry and shipping cannot deliver, then others will," Jeffrey Saunders stated.
Source: Danske Maritime / Maritime Denmark